June 11, 2009 / 9:17 PM / 11 years ago

Argentine stocks, bonds rise again on broad upswing

BUENOS AIRES, June 11 (Reuters) - Argentina’s stock, bond and currency market trends on Thursday.

* The MerVal stocks index .MERV gained 0.87 percent to 1,669.54 points, rising for a third straight session on Wall Street’s gains and higher crude oil futures.

* The index is up nearly 56 percent since the start of the year.

* Shares in Tenaris TENA.BA, which makes steel pipes for the energy industry and is weighted as almost half of the MerVal, rose 1.3 percent to 61.10 pesos per share.

* On the broad stock market, volume was moderate at $16.7 million. Of active issues, 46 advanced, 20 declined and 13 were unchanged.

* Prices for government bonds traded over-the-counter in Buenos Aires gained 2.4 percent on average, also rising for a third consecutive day. Trade volume was more robust as some institutional investors returned to the market, traders said.

* The 2033 Discount denominated in dollars ARDISCD=RASL surged 4.7 percent to an ask price of 50.40.

* Dollar-denominated Boden 2012 bonds ARBODEN12D=RASL gained 0.85 percent as the government received bids for the early payment of a coupon that comes due in August. Participants have until Friday to specify the discount they would be willing to accept in the deal. [ID:nN10354443]

* In formal exchange between banks, the peso ended unchanged for a third straight session at 3.7575/3.76 per dollar ARS=RASL. Traders said the central bank continued to sell dollars to keep the local currency from slipping.

* In informal trade between foreign exchange houses, as measured by Reuters, the peso weakened 0.52 percent to 3.8325/3.8375 ARSB= amid private demand for greenbacks ahead of a June 28 mid-term election. (Reporting by Walter Bianchi; Writing by Hilary Burke)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below